On the bloc

Aug 10, 2022

Collective sales returned to the market - seemingly with a vengeance - after an initial knee-jerk cooling-off period following the government’s market cooling measures in December 2021.

Yet while some large and prime sites sealed deals in the year to date, many are still on the block after several rounds of marketing. Others are taking longer to conclude, closing tenders with no bids or moving into extended private treaty talks. Still, property watchers see continuing interest from developers local and foreign, in an environment where both new launch prices and interest rates are rising. We map the major en bloc sales that have come on the market this year, and those that have sold so far this year and last year.



ORCHARD

1. High Point
Asking: S$550 million
Tenure: Freehold
Land rate: S$2,508 psf ppr
Land area: 47,606 sq ft

2. Elizabeth Towers
Asking: S$630 million
Tenure: Freehold
Land rate: S$2,400 psf ppr
Land area: 54,317 sq ft



OXLEY, RIVER VALLEY

1. Oxley Garden
Asking: S$200 million
Tenure: Freehold
Land rate: S$2,346 psf ppr
Land area: 58,207 sq ft

2. 5 Oxley Rise
Asking: S$300 million
Tenure: Freehold
Land rate: S$1,984 psf
Land area: 151,205 sq ft

3. 10A, 10B Institution Hill
Sold: S$33.6 million
Buyer: Macly Group, Roxy-Pacific Holdings, LWH Holdings / Feb 2021
Tenure: Freehold
Land rate: S$1,381 psf ppr
Land area: 8,761 sq ft

4. The Beaumont
Asking: S$468 million
Tenure: Freehold
Land rate: S$2,448 psf
Land area: 74,739 sq ft



TANGLIN

1. 21 Anderson
Sold: S$213 million
Buyer: Kheng Leong Group / Sep 2021
Tenure: Freehold
Land rate: S$2,490 psf ppr
Land area: 49,000 sq ft

2. Tanglin Shopping Centre (commercial)
Sold: S$868 million
Buyer: Pacific Eagle Real Estate / Feb 2022
Tenure: Freehold
Land rate: S$2,769 psf ppr
Land area: 68,512 sq ft

3. Orchard Bel Air
Asking: S$587.5 million
Tenure: 99-year leasehold
Land rate: S$2,600 psf ppr
Land area: 93,126 sq ft



JURONG

1. Lakepoint Condo
Asking: S$640 million
Tenure: 99-year leasehold
Land rate: S$988 psf ppr
Land area: 562,286 sq ft

2. Lakeside Apartments
Sold: S$273.9 million
Buyer: Wing Tai / May 2022
Tenure: 99-year leasehold
Land rate: S$1,250-$1,260 psf ppr
Land area: 134,177 sq ft

3. Park View Mansions
Sold: S$260 million
Buyer: Chip Eng Seng, KSH, SingHaiyi / Jul 2022
Tenure: 99-year leasehold
Land rate: S$1,023 psf ppr
Land area: 191,974 sq ft



THOMSON

1. Thomson View Condo
Asking: S$950 million
Tenure: 99-year leasehold
Land rate: S$1,294 psf ppr
Land area: 540,319 sq ft



BUKIT TIMAH

1. Watten Estate Condo
Sold: S$550.8 million
Tenure: Freehold
Buyer: UOL-SingLand / Oct 2021
Land rate: S$1,723 psf ppr
Land area: 220,241 sq ft

2. 551-553 Bukit Timah Road, 6-8 Duke’s Road
Sold: S$53.9 million
Tenure: Freehold
Buyer: Hillcrest Investments / Dec 2021
Land rate: S$1,504 psf ppr
Land area: 16,479 sq ft



SERANGOON

1. Chuan Park Condo
Sold: S$890 million
Buyer: Kingsford Group, MCC Singapore / Jul 2022
Tenure: 99-year leasehold
Land rate: S$989 psf ppr
Land area: 400,588 sq ft

2. Kensington Park
Asking: S$1.28 billion
Tenure: 999-year leasehold
Land rate: S$1,371 - S$1,414 psf ppr
Land area: 491,000 sq ft



EAST COAST

1. Meyer Park
Asking: S$420 million
Land rate: S$1,720 psf ppr
Land area: 96,672 sq ft

2. La Ville
Sold: S$152 million
Buyer: ZACD Group / Dec 2021
Land rate: S$1,477 - S$1,540 psf ppr
Land area: 47,012 sq ft



PASIR PANJANG

1. Gloria Mansion
Sold: S$70.3 million
Buyer: Fraxtor Capital and Teo family / Jan 2022
Tenure: Freehold
Land rate: S$1,098 psf ppr
Land area: 45,742 sq ft

2. Flynn Park
Sold: S$371 million
Buyer: Hoi Hup Realty, Sunway Developments / Sep 2021
Tenure: Freehold
Land rate: S$1,318 - S$1,355 psf ppr
Land area: 208,443 sq ft



KALLANG

1. Sultan Plaza
Asking: S$360 million
Tenure: 99-year leasehold
Land rate: S$1,549 psf ppf (mixed use), S$1,629 psf ppr (hotel)
Land area: 63,440 sq ft*
*including adjoining state land

2. Golden Mile Complex
Sold: S$700 million
Buyer: Perennial Holdings, Sino Land, Far East Organization / May 2022
Tenure: 99-year leasehold
Land rate: S$1,181 psf ppr
Land area: 144,908 sq ft



SELEGIE

1. Peace Centre and Peace Mansion
Sold: S$650 million
Buyer: Chip Eng Seng, SingHaiyi, Ultra Infinity / Dec 2021
Tenure: 99-year leasehold
Land rate: S$1,388 - S$1,426 psf ppr
Land area: 76,618 sq ft



DOWNTOWN

1. People’s Park Centre
Asking: S$1.8 billion
Tenure: 99-year leasehold
Land rate: S$2,620 psf ppr
Land area: 95,467 sq ft

2. Maxwell House
Sold: S$276.8 million
Buyer: SingHaiyi, Chip Eng Seng, Chuan Holdings / May 2021
Tenure: 99-year leasehold
Land rate: S$1,700 psf ppr
Land area: 41,799 sq ft

3. International Plaza
Asking: S$2.7 billion
Tenure: 99-year leasehold
Land rate: S$2,448 psf ppr
Land area: 75,090 sq ft



TANJONG KATONG

1. 173-183 Haig Road
Sold: S$49.3 million
Tenure: Freehold
Buyer: Nanshan Group / Apr 2022
Land rate: S$1,286 psf ppr
Land area: 27,389 sq ft

2. 23, 25, 27, 29 Thiam Siew Avenue
Sold: S$815 million
Tenure: Freehold
Buyer: Hoi Hup Realty, Sunway Developments / Nov 2021
Land rate: S$1,488 psf ppr
Land area: 263,794 sq ft

https://www.businesstimes.com.sg/inf...cs/on-the-bloc